Apple Introduced Its IPhone 3G in July 2008 and Within

question 180

Multiple Choice

Apple introduced its iPhone 3G in July 2008 and within a month sales had topped 3 million units.By April 2009, more than 25,000 apps for the iPhone 3G were available in the iTunes store, an indication that in a competitive market,

• A)the ease at which a new firm can enter a competitive market is low.
• B)the ease at which a new firm can enter a competitive market is high.
• C)entry into the market is blocked.
• D)entry into the market is restricted in the short run, but becomes easier in the long run.

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Definitions:

Townhome

A Townhome, also known as a townhouse, is a type of multi-floor home that shares one or more walls with adjacent properties but has its own independent entrance.

Customer

A person or entity that buys products or services from a company.

Need Awareness

The recognition by potential customers of a desire or requirement that could be satisfied by a product or service.

Target

An objective or goal that an individual, group, or organization aims to achieve within a specified timeframe.